Centre to raise Rs 1,200 cr through Nalco disinvestment

Department of investment and public asset management has set a record target of raising Rs 72,500 crores through disinvestment in 2017-18 FY

GN Bureau | April 21, 2017


#PSU   #Nalco   #National Aluminium Company Limited  
The centre has successfully divested 9.2 percent of paid-up capital in the National Aluminium Company Limited (NALCO), a Navratna enterprise, to raise Rs 1,200 crores.
 
 Department of investment and public asset management (DIPAM) under the ministry of finance has set a record target of realising Rs 72,500 crores through disinvestment in the current fiscal. The government had raised Rs 46,247 crores in the last fiscal. 
 
Originally, the disinvestment in NALCO offer for sale (OFS) was pegged at 5 percent, but after getting overwhelming response from the market, DIPAM raised the offer to 9.2 percent on April 19. With this, the centre’s shareholding in NALCO has come down to 65.37 percent. 
 
The retail investor continues to back PSUs’ disinvestments by DIPAM. For the fourth time in a row, retail investors out-performed institutional investors. This is particularly satisfying to DIPAM, as one of the objectives of disinvestment policy is to make PSU shareholding broad-based so that country’s wealth is shared by its citizens.
 

Comments

 

Other News

Kerala’s Industrial and Commercial Policy: A case for collaboration, consultation

In 2014, the Ministry of Law and Justice published India’s ‘Pre-Legislative Consultation Policy’ or PLCP, a landmark policy that outlined a process and recommendations for lawmaking, through the incorporation of public participation and opinion. In 2024, we mark a decade of this policy, w

Elections 2024: Why Mumbai and Maharashtra verdict is crucial

In the ongoing Lok Sabha elections, Maharashtra with 48 Lok Sabha seats is of crucial importance for the final outcome. In the 2019 election, the Shiv Sena-BJP alliance won 42 seats including six seats in Mumbai, as well as one each in Thane, Kalyan, Bhiwandi, and Palghar, which fall in the Mumbai Metropol

Jammu-Kashmir makes indelible mark on electoral history

In a massive stride for India’s electoral polity, Jammu and Kashmir has registered its highest poll participation in the last 35 years in the General Elections of 2024. The Combined Voter Turnout (VTR) at the polling stations for the entire union territory, which has 5 Lok Sabha seats

New study tracks heat wave; exposes dangerous trends in big cities

An unprecedented heat wave has been enveloping Indian cities, worsening the urban heat island effect, this summer. A new analysis by Centre for Science and Environment (CSE) says there are far deeper and longer term evidences on the nature of this changing trend that is impacting the biggest cities of the

Phase 6: Voter turnout 59.06% at 7:45 PM

Polling in the sixth phase of General Elections 2024 which commenced across 58 PCs recorded an approximate voter turnout of 59.06% as of 7:45 pm Saturday. In spite of hot weather in certain parts of the country, voters were undeterred in their enthusiasm as they were seen queuing up patient

Banks not adhering to RBI guidelines, finds study

Banks across India are levying inconsistent service charges on basic savings accounts. A study, “Benchmarking Reasonableness of Service Charges by Banks in India”, uncovers and exposes inconsistencies in adherence to RBI mandates by banks. It finds some banks impose charges exceeding reasonable

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter